World Bank recruits Financial Officer for their Washington, DC office under International Hire
Job # 090428
Job Title – Financial Officer
Job Family – Financial Management
Location – Washington, DC
Appointment – International Hire
Job Posted – 09-Mar-2009
losing Date – 24-Mar-2009
Language Requirements – English [Essential]
Appointment Type – Term (Duration: 2 yrs)
Background / General description
Within the Concessional Finance and Global Partnerships (CFP) Vice-Presidency, the Resource Mobilization Department (CFP/FRM) is responsible for mobilizing, managing and allocating the resources of the International Development Association (IDA), the Bank’s principal facility for providing concessional resources to the world’s poorest countries. CFP/FRM is divided into two units: the IDA operations team which manages the process of allocating IDA’s resources to eligible poor countries; and the IDA finance team which manages IDA’s financial operations.
Within the IDA finance team, there are two sub-groups: one dealing with IDA’s financial policy issues, such as the identification and mitigation of financial risks as well as ongoing asset & liability management for IDA; and another one in charge of handling financial transactions with IDA member countries, including donor commitments and payments as well as IDA capital transactions related to all IDA members.
Duties and Accountabilities
This position is responsible for the management of financial transactions related to IDA and MDRI capital subscriptions and contributions recorded in STAR/SAP. It is also responsible for coordinating IDA business requirements with the Bank’s IT systems development. The incumbent is one of the members of the CFP/FRM Finance team and will report to the Manager, Finance with day-to-day guidance from a Senior Financial Officer. The Financial Officer will work both independently and in a team and be involved in a broad range of responsibilities in the CFP/FRM Finance team, including:
• Analyze and control the financial management and accounting of IDA member contributions as well as allocation of voting power to IDA members
• Monitor and manage IDA’s commitment authority under a given IDA replenishment
• Advise Government officials on IDA financial policies and procedures and provide them with projected contributions, payments and encashments for their legislative budget planning purposes
• Lead required work related to annual and ad-hoc internal and external audits of IDA Capital
• Develop and maintain relations with key stakeholders, including IDA donors and other Bank units (such as Accounting, the Corporate Secretariat, Treasury)
• Identify business needs for IT system improvements and coordinate with IT team lead within CFP
• Participate and collaborate in the design, development and testing of new IT systems application for IDA
• Prepare business requirements documentation and oversee IT system development efforts together with a Business Systems Officer
• Supervise and coordinate the work of two program assistants and one financial analyst within the IDA Finance Team
Selection Criteria
• Advanced academic degree in mathematics, finance or information technology, preferably combined with an MBA or a professional designation (CPA, CFA or equivalent)
• At least 5 years of relevant professional experience in the areas of financial management, accounting and/or business system development
• Solid knowledge of the World Bank Group business and the overall financial structure of the World Bank Group, preferably with prior experience with IDA or Trust Funds and prior exposure to SAP (STAR system preferred)
• Demonstrated strong overall financial literacy
• Familiarity with generally-accepted accounting policies and procedures
• Preferably skills in IT system development, with prior experience in translating business needs into systematic programs
• Ability to think strategically, creatively and practically
• Adherence to the highest ethical business standards
• Highly organized, high attention to detail, consistent accuracy of outputs under stress, and ability to carry out financial analysis in a systematic and structured manner
• Demonstrated strong oral and written communication skills, including ability to make presentations to IDA donors in the context of replenishment meetings and bilateral donor discussions
• Strong interpersonal skills and diplomatic skills in dealing with IDA members
• Strong problem-solving skills with a demonstrated capacity to identify pragmatic solutions and to integrate contributions from different sources
• Ability to train and mentor others
The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background. Individuals with disabilities are equally encouraged to apply. All applications will be treated in the strictest confidence.
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